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About Me:

terri77

I am 46, single, no kids. I am a health care professional. I feel that I'm generally a very good saver and a not so good budgeter - hence the credit card debt payoff I worked through in 2020.

My personal finance goals for 2024:

1. Contribute maximum to Thrift Savings Plan. This is a recurring goal that I’ve accomplished every year since 2008.

2. Contribute maximum to Roth IRA. This is a recurring goal that I’ve accomplished every year since 2001.

3. Pay off credit cards. Completed January 2021. Now the strategy is to pay off my credit cards monthly with no balance carryover.

4. Build up emergency & long-term savings. I completed my initial goal in April 2021. I have 3-6 months of expenses saved at this time & I continue to save for my next car purchase, which is hopefully many years away. I use high yield savings and CDs.

5. Invest in brokerage account. I started with the proceeds from selling my condo & have added monthly. This account is for a future down payment when I purchase a home again.

6. Give to church monthly. I attend two churches right now so I alternate my monthly offerings.

7. Give to charity monthly. Food banks are my preferred charity to give to. I have automated my charitable donations at work to give with my biweekly paychecks.

8. Apply for promotions as they become available. Right now I’m very happy in my current position, so this isn’t much of a goal currently. I have received several raises, I enjoy the work I do, & the people I work with…I’m very happy to stay where I am.

9. New goal for 2024! Build new home with $100k down. This will be funded from my brokerage account & cash savings. 🏡

Corrected W-2

January 13th, 2022 at 10:32 pm

Since I just finished paying back the SS taxes from when they didn't withhold them the last few months of 2020, I got a corrected W-2 for that year. I really hated that supposed tax holiday. It has caused more issues than anything else. I hope that I don't have to go back & refile for 2020. The guidance says that you don't have to if you had just one job, but I was working three jobs in 2020. Thankfully, the other 2 jobs were smart enough to opt of the tax pause. As a federal employee I didn't have that option. (I think only one agency was able to opt out.) What a mess!

Posted in Personal Finance | 4 Comments »

4 Responses to “Corrected W-2”

mumof2 Says:
January 14th, 2022 at 12:05 am 1642118753
1642118753

I get it..try living in a different country and trying to work out the mistakes they make..I have been doing this for the last 2 years
crazyliblady Says:
January 15th, 2022 at 01:35 am 1642210521
1642210521

Why did they not withhold taxes from your pay?
terri77 Says:
January 15th, 2022 at 03:34 am 1642217676
1642217676

Trump authorized a payroll tax deferral in 2020, which had to be repaid. The federal government allowed us to pay them back throughout 2021.
rob62521 Says:
January 16th, 2022 at 07:55 pm 1642362950
1642362950

Sorry this has been such a pain!

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Firefly's Personal Finance Blog

Working out my spending impulses.

Corrected W-2

4 Responses to “Corrected W-2”

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